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Home / Opinion Digests / Trustee Gets Share of Exempt 409A Account (access required)

Trustee Gets Share of Exempt 409A Account (access required)

An Alexandria U.S. Bankruptcy Court sustains a chapter 7 trustee's objection to debtor's claimed exemption under Va. Code § 34-34 of $30,154.99 in a nonqualified deferred compensation plan established pursuant to IRC 409A, as part of debtor's compensation package from Kforce Services Corporation; 25 percent of the 409A funds are property of the bankruptcy estate. The ...

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